It isn't often that Rainforest Action Network heads to Davos for the
opening of the World Economic Forum (WEF). But that's just what our tar sands
campaigner, Brant Olson, is doing. Why? Because as world leaders gather at
Davos today to discuss the year's economic fortunes, one financial institution,
the Royal Bank of Canada (RBC), will be singled out for their outstanding
contributions to increasing climate change.

RAN's Brant Olson is accepting the award for RBC as the bank's
representatives declined to attend the ceremony. As Brant said in a press release earlier today:

"Global banks can
no longer ignore the impact their financing has on the climate, people and the
future of this planet. The Public Eye Award demonstrates the increasing global
concern over the billions of dollars of financing flowing into destructive tar sands
projects, which Royal Bank of Canada
is playing a leading role in. The world is watching RBC."

RBC is the leading financier of companies extracting oil from the Alberta tar sands. Since
2007, RBC has backed $14.3 billion (USD) in credit to companies operating in the tar sands, and
earned more than $84 million (USD) in underwriting fees. As a result, RBC has enabled the
production of the world's dirtiest oil. Oil extraction from the tar sands generates
three times the CO2 emissions as conventionally extracted oil, which will soon
make Canada
the biggest contributor to global warming.

The Global Public
Eye Award is essentially a shame-on-you-award given to the nastiest corporate
players of the year. The Public Eye Awards are a critical counterpoint to the
annual meeting of the World Economic Forum (WEF) in Davos. The Public Eye
Awards are held in Davos, Switzerland, on the opening day of
the World Economic Forum (WEF). At this counter-event to the WEF, the
organizers of The Berne Declaration and Greenpeace Switzerland remind companies of
their duty as truthful corporate citizens. Awards are given to multinational
companies that have excelled in irresponsible social and environmental
behavior. The Public Eye Global Award included nominees from three continents,
but this year RBC took the prize for. RBC declined to attend the event.

Mining oil from
tar sands requires churning up huge tracts of ancient boreal forest and
polluting so much clean water with poisonous chemicals that the resulting waste
ponds can be seen from outer space. The health impacts to Alberta's First Nation communities are
severe, with cancer rates up in some communities as much as 400 times its usual
frequency. In addition, communities living near oil refineries face increased
air and water pollution from tar sands oil, which contains 11 times more sulfur
and nickel.